Bitcoin (BTC) and Ethereum (ETH) have been consolidating for a while altcoins like Chainlink (LINK) and Binance Coin (BNB) have surged to all-time highs. On Wednesday, February 10, the Chainlink (LINK) price surged to its new all-time high above $28.4 with its market cap shooting to $11.5 billion. The LINK has been one of the top-performing cryptocurrencies with its price skyrocketing more than 150% year-to-date. The recent price rally comes backed by solid network growth for Chainlink.
As per data by on-chain provider Santiment, the Chainlink network has registered a staggering 176% network growth over the last 90 days. Another chart from Santiment shows that the rapid surge in the LINK token circulation for the 13th straight month has contributed to its bullish run.
Binance Coin (BNB) Registers 135% Growth on Weekly Charts
On Wednesday, February 10, Binance Coin (BNB) – the native cryptocurrency of the Binance blockchain shot 50% in a single day hitting its all-time high above $148. This was for the very first since its inception in 3.5 years that BNB price crossed $100 levels. Although the BNB price has retraced partially from its highs, it is still trading at $127 with a market cap of $19.2 billion.
At press time, the BNB price is 135% up on a weekly chart and its year-to-date gains stand close to 250%. Similar to Chainlink (LINK), the Binance Coin has also seen a staggering network over the last 90 days. During this period, the number of active addresses on Binance has literally tripled. The Santiment report states:
“Three weeks ago, the largest age consumed spike in BNB’s three and a half year history occurred. This was an indication that dormant tokens were on the move, and it wasn’t surprising to see prices spike fairly quickly afterward”.
Also, one of the major triggers to BNB’s Wednesday price rally was the Binance Smart Chain surpassing Ethereum in daily transactions. As Ethereum continues to face congestion with a high gas fee, Binance continues to gain ground in the DApps market with low fees.
— CZ 🔶 Binance (@cz_binance) February 10, 2021